China and the United States should resume timely communication on trade and other issues, a former senior Chinese official said on Thursday, who stressed that the world’s two largest economies are too intertwined to be decoupled.
(Bloomberg) — Losses picked up in U.S. stock index futures after the Federal Reserve signaled that the path to economic recovery will be long and as worries over a second wave of coronavirus infections grew.June contracts on the S&P 500 fell 1.6% as of 8:28 a.m. in London, extending earlier declines. Those on Dow Jones Industrial Average dropped 2%.In Europe, the benchmark Stoxx 600 Index slumped 2.7%, with all subgroup gauges dropping and the losses led by shares of travel companies and banks.Fed Chairman Jerome Powell Chair indicated on Wednesday the central bank will keep providing stimulus into the U.S. …read more […]
Finnish telecoms equipment maker Nokia named a new finance chief on Thursday, completing an overhaul of its top executive team as it battles rivals Ericsson and Huawei [HWT.UL] for work on lucrative 5G networks.
Finnish telecoms network maker Nokia said on Thursday it has appointed Marco Wiren as chief financial officer following changes of its chairman and chief executive this year.
Tesla Inc has received government approval to build Model 3 vehicles in China equipped with lithium iron phosphate (LFP) batteries, a document on Ministry of Industry and Information Technology website showed.
E-commerce companies Amazon Inc and eBay Inc have been instructed by the U.S. Environmental Protection Agency (EPA) to stop selling unproven or unsafe disinfectants, including products falsely marketed as killing COVID-19, on their platforms, Bloomberg reported https://bloom.bg/3fcuLg5 on Thursday.
European food-ordering firm Just Eat Takeaway.com NV’s proposed $7.3 billion all-share acquisition of U.S. peer Grubhub Inc was met with investor scepticism, sending its shares down 2.5% to 83.26 euros at the start of trade on Thursday.
Britain’s Heathrow Airport, which before the coronavirus pandemic was the busiest in Europe, said it had started a voluntary redundancy scheme after passenger numbers fell to an all-time low and it could not rule out further job losses.
China’s auto sales in May rose 14.5% from the same month a year earlier, industry data showed on Thursday, the second consecutive month of increase as the world’s biggest vehicle market recovers from lows hit during coronavirus lockdowns.
The market for COVID-19 antibody tests is red-hot. It has ballooned in a matter of months as hundreds of products flood the world for people who want to find out whether they’ve already had the virus.
Asian shares retreated on Thursday as a gloomy outlook from the U.S. Federal Reserve challenged market optimism on the global economy, while bonds rallied on speculation that yet more stimulus would be needed to ensure recovery.
Finnish telecoms network maker Nokia said on Thursday it has appointed Marco Wiren as chief financial officer following changes of its chairman and chief executive this year.
Wiren will replace Kristian Pullola from Sept 1, joining from Finnish engineering firm Wartsila where he is heading power plant technology unit after previously working as a CFO of several public companies, it said. Wiren will joing with Lundmark, who will take over as CEO also in September. …read more […]
Asian shares swung lower on Thursday while bonds rallied after a downbeat economic outlook from the U.S. Federal Reserve stoked speculation it would have to add to already historic levels of stimulus to underpin a recovery.
(Bloomberg) — Oil declined in New York as an increase in American crude stockpiles to a record high raised fresh concerns about excess supply, while the Federal Reserve forecast a long road to recovery for the U.S. economy.Futures lost 3.2% to drop below $39 a barrel, erasing all of the gains from the previous session. U.S. crude inventories unexpectedly rose last week, even as oil production fell, while gasoline stockpiles also saw a surprise expansion. Fed Chairman Jerome Powell said the pandemic could inflict longer-lasting damage on the economy and the central bank signaled it would keep rates near zero …read more […]
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